Using RC1, through the interface:
Media -> Convert/Save...
File (tab)
Add... (select source file)
Select more options
Scroll the Start Time to 100.0 (Edit Options reflect this change)
Convert/Save
Select output filename, format etc...
Start
The output media should be 100seconds less than input media (and obviously 100seconds in the file) - this options seems to be ignored.
Equally, manually appending :stop-time=xx to b]Edit Options[/b] doesn't appear to have any effect either.
Source file is MPEG2-PS with MPEG Audio.